Arun Jaitley says the next stage of tax reforms will start once India becomes a significant tax compliant society. Photo: Abhijit Bhatlekar/MintNew Delhi: Federal indirect tax body, the GST Council will continue to prune the list of items in the highest tax slab of 28%, but merging of the 12% and 18% slabs will have to wait till tax compliance increases, finance minister Arun Jaitley said on Tuesday. Jaitley said that in the first instance of tax rate rationalization after GST introduction, the list of items in the 28% slab were pruned. For that to happen, it will take some reasonable time, that is when the compliance levels start moving up,” Jaitley said. “About 30% taxpayers registered with GST are still not filing their returns and the government must endeavour to make them file returns, which may further enhance the overall GST revenue collections,” Jain said.

Source: Mint February 27, 2018 12:33 UTC